Osger. Duh? Stocks trade on the value of earnings or on the expectation of future earnings.
If you open a poker hand with pocket jacks you probably stay for a few cards... At some point you look for improvement. If you get to the river with a pair of jacks and you're still betting, you're probably an idiot. No?
NSDM issued 620 million shares of stock, 2/3 to Walter himself I believe. The money is gone and they have shown no results to date. Well, there was a long-winded story about Ukrainian diamond riches, but it seems to have been a lot of BS. NSDM is not pursuing anything in Ukraine. I have to assume the whole story there was cooked up to sell stock and raise money for this Canadian venture. Some of that was my money.
To get back to my poker analogy, NSDM has just drawn its seventh card and we're waiting while they turn it over. What do I say if they hit the mother lode? (I assume that's what you meant by mother loan) I'll say wow! More than likely though, they're just tapped out after this one.
Why do you think their chances are good? That was my question. Is there some proprietary secret process they're using? They're woefully underfunded now. That means they have to go back to the equity markets and get some cash if they want to continue. They're going to issue a ton of stock and the price should fall like a stone. If they pick up a lot of financing, say several million dollars, and Walter doesn't just put most or all of it in his own pocket, as seems to have happened with the first 620 million shares, and you figure they're close to something, that might be a time to buy. But I would wait at this point and see where the price ends up before getting back in.
There are a lot of well-financed diamond plays in Canada. This one seems to be particularly shaky.
Now are you able to discuss this or are you just going to call me names like the rest of the longs?
Maybe His Nibbs can complain to Matt that I'm arguing valuation while he's trying to pump stock.
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